Pernod Ricard Says Needs Time To Assess Impact Of Legal Cannabis

Pernod Ricard needs 12-18 months before it can determine whether the legalisation of cannabis will dent the consumption of premium spirits, the company's chief executive said on Wednesday.

"To date there is no evidence that the legalisation of cannabis will have an impact on the consumption of premium spirits. We continue to monitor it," Alexandre Ricard told the annual shareholders meeting. "We must give ourselves 12-18 months to be in a position to assess it."

Eight US states, including California and Nevada, have legalised marijuana for recreational use, and Canada became the first industrialised nation to legalise recreational cannabis last month.